Discuss in Brief the Waves of Innovation That Have Taken

question 2

Essay

Discuss in brief the waves of innovation that have taken place since the beginning of the Industrial Revolution.

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Definitions:

High-Involvement Purchases

Buying decisions that are significant to the consumer, often associated with considerable expenditure and extensive pre-purchase research.

Consideration Set

Consideration Set consists of the brands or products a consumer seriously considers in the decision-making process before making a purchase.

Word-Of-Mouth Communication

Informal conversations among individuals about products, services, or experiences, often influencing buying decisions.

Extended Problem Solving

A consumer behavior process where significant research and considerable effort are put into comparing and deciding on a product due to the high risk or involvement.